STEPN [GMT] stepped up its efficiency in Q2 of 2022. The move-to-earn based mostly gaming app has loved its share of success since its launch in December 2021.
However the sport as with all the GameFi world needed to undergo a market downturn. STEPN nonetheless managed to reap income throughout this crypto carnage. In reality, it continued to launch new options on its community.
‘STEPN’ up
STEPN shared its quarterly efficiency report by way of a weblog put up on Medium. The report highlighted the community’s efficiency and in addition mentioned updates which were launched just lately.
In Q2 2022, STEPN was capable of accumulate $122.5 million in income by way of transaction charges. The move-to-earn based mostly app additional shared plans to kickstart a Q2 GMT buyback and burn program by leveraging 5% of its income.
The allotted funds would majorly tackle varied issues on the community. The corporate will, in the beginning, goal enchancment in community safety.
STEPN has been a sufferer of Distributed Denial of Service (DDoS) assaults within the current previous. The group, will thus, try to make use of its assets to create a secure platform for its customers.
In reality, the corporate additional needs to boost its MAC anti-cheat system. This method will permit STEPN to rapidly and effectively determine dangerous actors.
Properly, the group can be anticipated to enhance its AI’s capacity to detect anomalies and forestall accounts from utilizing bots for mining.
Addressing the hype across the buyback and burn program, STEPN additionally plans to extend consumer help on its platform. GMT token rewards and sneakers are mentioned to be part of this program.
Is GMT within the inexperienced then?
STEPN’s native token GMT was buying and selling at $0.87, at press time, as per CoinMarketCap. The token suffered losses in worth just lately and has been in tandem with the broader crypto market.
Nonetheless, GMT has managed to hunt some good points since 12 July. The token nonetheless lagged behind within the weekly chart the place it stood 5.12% decrease than its value within the final seven days.